The German-born entrepreneur has an estimated net worth of $4.2 billion.
(Photo: Bloomberg)
san francisco Tech billionaire and longtime Republican sponsor Peter Thiel wants to stay out of the 2024 US presidential campaign, according to insiders. According to information from the Reuters news agency, he said this to two people close to him.
Thiel is therefore dissatisfied with the Republican Party’s focus on controversial issues – such as abortion and restricting the use of toilets by transgender students. Instead, she should focus more on driving innovation in the country and on growing competition from China. Thiel declined a Reuters request for an interview.
Four political insiders also told Reuters that Donald Trump’s former supporter plans to withdraw from US politics. Thiel, who set himself apart from his liberal Silicon Valley colleagues with his commitment to conservative causes, is considered a supporter of libertarianism – a political philosophy that emphasizes the importance of individual freedoms.
The German-born entrepreneur is worth an estimated $4.2 billion, having co-founded payments processor PayPal and tech firm Palantir, and investing early in Facebook. Since 2000, he has donated approximately $50 million to state and federal political candidates and campaigns, including Trump.
He was the 10th-biggest single donor to either party in the 2022 midterm congressional election, according to the nonprofit organization OpenSecrets.
>> Read here: Peter Thiel in the Handelsblatt interview
According to experts, Thiel’s decision underscores the fact that the Republicans’ shift to the right is alienating some prominent, entrepreneurial donors. Several top donors are reluctant to support conservative Florida Gov. Ron DeSantis. He could soon announce his candidacy for the White House. He recently signed a controversial law banning most six-week abortions in Florida.
Thiel is married to businessman Matt Danzeisen, with whom he has two young children. Concerns for his family’s safety also influenced Thiel’s decision to retire, insiders say.
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